Power Mech Projects has bagged new orders worth Rs 734 crore. The company’s current order book stands at around Rs 8,000 crore.

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Sajja Kishore Babu, Chairman and Managing Director of Power Mech Projects discussed this at length with CNBC-TV18.

“There are another two major orders in the pipeline. We will disclose it in next 10-15 days,” he said.

Power Mech’s main objective, he added, is to reduce the debt level by end of 2022.

“Right now we will manage our existing orders with present debt. We are planning to reduce the debt by end of 2022. That is our target to reduce our debt to the level of 2.2 percent of our topline,” he pointed out.

“For the next year 2022, our topline will be around Rs 2,600 crore. Without getting any new orders, with our existing orders we are confident to achieve that. Profits will be around 5-6 percent in terms of profit after tax (PAT) and around 15-16 percent in terms of EBITDA,” he stated.

In terms of working capital days, he mentioned, “We have come down to 80-90 days.”

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(Edited by : Anshul)